EXL and Databricks strengthen partnership to accelerate development of new analytics and GenAI solutions
NEW YORK, Sept. 30, 2024 (GLOBE NEWSWIRE) -- EXL (NASDAQ:EXLS), a leading data analytics, digital operations, and solutions company, announces the strengthening of its partnership with Databricks, the data and AI company. Under the agreement, EXL will build a robust team of Databricks-certified talent and deploy new data management and generative AI (GenAI) solutions into the Databricks ecosystem, speeding the development of cutting-edge data management solutions for EXL clients.
EXL will leverage the Databricks Data Intelligence Platform, which enables companies to unify all their data and AI to, help clients fully harness their data for advanced analytics and AI applications. In addition, over the next several months, EXL plans to train and certify data engineers and data scientists in the Databricks ecosystem. This initiative will boost capacity for EXL clients in multiple industries currently using Databricks solutions.
In insurance, for example, EXL will leverage Databricks to help insurance clients analyze their claims cycles and instantly spot anomalies, over-payments, and other inaccuracies. In banking, EXL is working with Databricks to unlock the potential of unstructured transaction data, providing banks with insights that can be leveraged across the customer lifecycle to unlock various risk and marketing use cases. In healthcare, EXL has developed a platform that delivers comprehensive intelligence. It allows subject matter experts to rapidly synthesize big data to detect anomalies in real time, accelerate insights, reduce healthcare costs, and deliver more personalized care. The platform, which was built on Databricks and launched in 2023, is continuously enhanced with GenAI capabilities.
To help clients get the most from Databricks technology, EXL is also launching the Databricks Migrations solution. This solution allows clients to reduce migration costs and improve efficiency by leveraging EXL Code Harbor™ (patent pending), a groundbreaking GenAI-enabled tool that accelerates the migration of legacy codebases to novel and open-source languages. It includes a suite of migration accelerators, from code conversion to automated validation.
"We are excited to expand our partnership with Databricks," said Vivek Jetley, president and global head of analytics at EXL. "EXL's domain expertise and robust data, analytics and AI capabilities, along, with the unique value proposition that Databricks offers, will give our clients a significant advantage as they continue to unlock the true potential of their data in a cost-effective way."
To learn more about the EXL and Databricks partnership, please visit here.
About EXL
EXL (NASDAQ:EXLS) is a leading data analytics and digital operations and solutions company. We partner with clients using a data and AI-led approach to reinvent business models, drive better business outcomes and unlock growth with speed. EXL harnesses the power of data, analytics, AI, and deep industry knowledge to transform operations for the world's leading corporations in industries including insurance, healthcare, banking and financial services, media and retail, among others. EXL was founded in 1999 with the core values of innovation, collaboration, excellence, integrity and respect. We are headquartered in New York and have more than 55,000 employees spanning six continents. For more information, visit www.exlservice.com.
Cautionary Statement Regarding Forward-Looking Statements This press release contains forward-looking statements within the meaning of the United States Private Securities Litigation Reform Act of 1995. You should not place undue reliance on those statements because they are subject to numerous uncertainties and factors relating to EXL's operations and business environment, all of which are difficult to predict and many of which are beyond EXL's control. Forward-looking statements include information concerning EXL's possible or assumed future results of operations, including descriptions of its business strategy. These statements may include words such as "may," "will," "should," "believe," "expect," "anticipate," "intend," "plan," "estimate" or similar expressions. These statements are based on assumptions that we have made in light of management's experience in the industry as well as its perceptions of historical trends, current conditions, expected future developments and other factors it believes are appropriate under the circumstances. You should understand that these statements are not guarantees of performance or results. They involve known and unknown risks, uncertainties and assumptions. Although EXL believes that these forward-looking statements are based on reasonable assumptions, you should be aware that many factors could affect EXL's actual financial results or results of operations and could cause actual results to differ materially from those in the forward-looking statements. These factors, which include our ability to maintain and grow client demand, our ability to hire and retain sufficiently trained employees, and our ability to accurately estimate and/or manage costs, rising interest rates, rising inflation, recessionary economic trends, and ability to successfully integrate strategic acquisitions, are discussed in more detail in EXL's filings with the Securities and Exchange Commission, including EXL's Annual Report on Form 10-K. You should keep in mind that any forward-looking statement made herein, or elsewhere, speaks only as of the date on which it is made. New risks and uncertainties come up from time to time, and it is impossible to predict these events or how they may affect EXL. EXL has no obligation to update any forward-looking statements after the date hereof, except as required by applicable law.
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